On this podcast episode I talk about one of the easiest ways to find good wholesale deals.
Direct mail, ringless voicemail, bandit signs, making offers, bidding online and outbound dialing are all excellent ways to find good deals.
But sometimes as investors we forget that there are some really good wholesale real estate deals out there that are already under contract by other wholesalers in your market. Think about it for a second. They have spent the money on marketing to find the seller. They have gone on the appointments and they have “locked up” the property. Now all they want is to sell it to a cash buyer and make a profit. You need to learn how to be that cash buyer that they want to sell to.
This is an amazing opportunity since everyone wants to learn how to wholesale, and every new investor wants to be a wholesaler. But no one wants to borrow money and close on the deal themselves! That creates an opportunity for real estate investors like myself that are willing to “take a deal down”. If you have the ability to close by purchasing the deal, even with borrowed money – then if the deal makes sense you should buy it. That is what I do.
In order to do this you need to have only three things. The first is you need to have all of the wholesalers in your local market sending you their deals. The second thing you need to have is an efficient system to screen through these deals. The easiest way to do this is to narrow down your focus to a specific area and for you to have specific buy parameters. Those parameters can be given to wholesalers and you need to let them know that you will buy any deal that meets those parameters. When they call you, you need to be ready, willing and able to “take those deals down”. If you don’t then you won’t be there first call on the next deal that they get.
And the third thing that you need to have is a lender so that you can borrow the money to pay cash and close on the property. Ironically this is the easiest of the three parts (even though most new investors think it is the most difficult).
On this podcast episode I talk about how to go about being that cash buyer that wholesalers text and call first when they get an awesome deal. And how you can benefit from this by keeping them happy. It’s all about keeping them happy. What they want is a cash buyer that closes. They don’t want someone to re-market their deal. They don’t want you to find them a buyer. They don’t want a buyer that is going to flake. They want a buyer that will close. Be that person and you will become the first cash buyer that wholesalers contact.
If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below:
FREE WHOLESALING TRAINING
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If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar
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